Sinclair Broadcast Group, Inc. (Nasdaq: SBGI) announced today that its wholly-owned subsidiary, Sinclair Television Group, Inc. has amended certain terms and extended the maturity date of certain loans under its existing bank credit facility.
Sinclair extended the maturity date of its term B loans (the "Loans") from April 9, 2020 and July 31, 2021 to January 3, 2024. In connection with the extension, Sinclair added additional operating flexibility, including a reduction in certain pricing terms related to the Loans and its existing revolving credit facility and revisions to certain covenant ratio requirements.
Sinclair is one of the largest and most diversified television broadcasting companies in the country. Including pending transactions, the Company owns, operates and/or provides services to 173 television stations in 81 markets, broadcasting 483 channels and having affiliations with all the major networks. Sinclair is the leading local news provider in the country, as well as a producer of live sports content. Sinclair's content is delivered via multiple platforms, including over-the-air, multi-channel video program distributors, and digital platforms. The Company regularly uses its website as a key source of Company information which can be accessed at www.sbgi.net.
